Pinova Capital buys AdzLocal

Managing partners Marina Beyer and Dietrich Wedegärtner are reinvesting in the company as part of the buyout.

Pinova is deploying equity via Pinova Capital Fund II, which held a final close in January 2017 on €180m. The fund makes investments of €10-25m, with up to €50m available with co-investments, targeting technology-backed SMEs in the DACH region. Pinova invests in companies with revenues of €10-75m.

Joern Pelzer, founding partner at Pinova, told Unquote in March 2021 that the GP expected to make two further deals from Pinova II before launching its next fund.

Company
Founded in 2009, AdzLocal provides online marketing services for Germany-based local and regional businesses. The firm aims to facilitate the acquisition of new clients for its customers, using Google campaigns, contact tracking and conversion-optimised landing pages. The firm offers monthly advertising packages from €300 onwards. The company is based in Hamburg and has 41 employees.

People
Pinova Capital – Jean-Marie Hofbauer (director).
AdzLocal – Marina Beyer, Dietrich Wedegärtner (managing directors).

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• Topics
• Buyouts
• DACH
• Consumer
• Germany
• Pinova Capital